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Double Taxation Due to Inadvertent Mistake Rectified: Bombay High Court Allows Revision Under Section 264. Commissioner’s Rejection of Revision Applications Overruled; Powers Under Section 264 Applied to Correct Over-Assessment.

This case involves three petitions filed by the assessee challenging the rejection of its revision applications under Section 264 of the Income Tax Ac...

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High Court Quashes Reassessment Proceedings Against Uttam Galva Metallics Ltd. Resolution Plan Under IBC Precludes Tax Reassessment for Pre-Resolution Period, Rules Bombay High Court.

The Bombay High Court quashed the reassessment proceedings initiated by the Income Tax Department against Uttam Galva Metallics Ltd. for the assessmen...

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High Court Quashes Reassessment Notice Against Bank for AY 2015-16; Holds Notice Based on "Change of Opinion" Invalid. Failure to demonstrate non-disclosure of material facts renders reassessment notice issued after four years unsustainable.

The High Court quashed a reassessment notice issued to a bank for the Assessment Year 2015-16, holding that the notice was based solely on a change of...

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Bombay High Court Quashes Reassessment Notice for AY 2013-14 Citing Lack of Proper Grounds. Court rules that reassessment cannot be initiated after four years without evidence of the assessee’s failure to disclose material facts during original scrutiny assessment.

  The reassessment proceedings initiated against the petitioner for the Assessment Year (AY) 2013-14, after scrutiny assessm...

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High Court Ruling on Tolani Ltd. Income Tax Appeals Clarifies Deduction Computation. Court Decides on the Interaction Between Section 33AC and Section 80-I of the Income Tax Act.

The High Court of Judicature at Bombay delivered a judgment on August 23, 2024, concerning the income tax appeals filed by Appellant. The central issu...

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Bombay High Court Upholds Partial Relief to Assessee in Bogus Purchases Case. Court emphasizes the need for concrete evidence before labeling transactions as bogus.

The Bombay High Court delivered its judgment on appeals filed by the Revenue and SVD Resins & Plastics Pvt. Ltd. concerning the genuineness of cer...

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Bombay High Court Quashes Income Tax Notice Against Kairos Properties Pvt. Ltd. Faceless Scheme Violations Render Notice Invalid

The Bombay High Court quashed the income tax notice issued against Kairos Properties Pvt. Ltd. for the assessment year 2017-18. The court found that t...

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High Court Quashes Income Tax Reassessment Notice. Reassessment Blocked Due to Audit Objection Constituting Change of Opinion.

The Bombay High Court at Goa quashed a notice issued under Section 148-A(b) of the Income Tax Act, 1961, to Shri Dilip Laximan Powar. The court found ...

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High Court of Bombay at Goa Quashes Reassessment Notice Issued to Shri Dilip Laximan Powar. Court rules that the notice under Section 148-A(b) of the Income Tax Act was invalid due to the change of opinion, emphasizing the importance of consistent and fair application of tax law.

The High Court of Bombay at Goa, quashed a reassessment notice issued under Section 148-A(b) of the Income Tax Act, 1961. The petitioner, Shri Dilip L...